The founder of a well-known wellness centre chain has been charged with misappropriating RM60,000 from the company for personal use, according to a charge sheet sighted by theedgemarkets.com.

Chuah Seong Keat, or better known as Leon Chuah, was charged at the Magistrate’s Court in Petaling Jaya on Thursday (Jan 5) for allegedly committing the offence in January 2018.

Founder of wellness chain charged with misappropriating RM60,000 for personal use

In the crowded landscape of the country’s consumer products and services sector, one company has quietly outshone its peers: trading and distribution outfit Harrisons Holdings (M) Bhd (KL:HARISON). Over the past few years, Harrisons has been delivering both revenue and profit growth, even during the disruptive pandemic.

The quiet titan of Malaysia’s consumer sector

Last year was a banner year for Teo Seng Capital Bhd (KL:TEOSENG), with record-breaking sales and earnings, indicating significant market expansion despite a challenging operating environment as inflationary pressures drove up raw material costs.

An egg-cellent year boosted by improved prices, subsidies

Focus Point Holdings Bhd (KL:FOCUSP), operator of Malaysia’s largest optical retail chain store, has been growing from strength to strength in the past few years despite having to face rising costs of doing business while inflationary pressure weighs on consumer spending.

Unwavering focus on the lens of growth

IT has been more than a decade since Axiata Group Bhd (KL:AXIATA) began investing in digital ventures in 2013, with an aspiration to create its own billion-dollar start-up, or what is widely known as a unicorn. While none of those ventures have attained unicorn status yet, Axiata’s current manage...

Cover Story: Axiata still has unicorn aspirations a decade on 

WITH global interest rates no longer on the rise, and at least one major central bank already trimming rates, Edotco Group Sdn Bhd — the world’s sixth largest telecom tower company — is all set for better days ahead, having prepped itself to welcome new strategic partners over the past two years....

Cover Story: Preparing Edotco for a more favourable macro environment

Digital Nasional Bhd announced on Friday that four mobile network operators (MNOs) have completed their respective share subscription agreements (SSAs) and acquired a 16.3% stake each in the 5G special purpose vehicle — higher than the 14% they were initially expected to take up — as Telekom Malaysia Bhd (KL:TM) has yet to complete its SSA.

Maxis, CelcomDigi, U Mobile and YTL Power buy 16.3% stake each in DNB instead of 14%, as TM yet to take up its portion

Sapura Energy Bhd (KL:SAPNRG) has granted chairman Datuk Mohammad Azlan Abdullah leave of absence with immediate effect to allow the 56-year-old to focus on ongoing investigations by the Malaysian Anti-Corruption Commission (MACC) regarding a matter unrelated to the oil and gas engineering group.

Sapura Energy grants chairman leave of absence amid unrelated MACC probe

Permodalan Nasional Bhd’s (PNB) said on Tuesday that its net income grew by 26% last year as the country’s largest fund manager raised investments in fixed income, real estate, private markets and foreign assets.

PNB net income grows 26% in FY2023, optimistic on equity

TEN years since Southern Capital privatised HELP International Corp Bhd (HIC) in 2014, the private equity firm has decided to exit, and the buyer is none other than a consortium of shareholders led by the education group’s founding Chan family.

The family’s private vehicle — CL Heritage...

HELP University founding Chan family buys back controlling stake from Southern Capital 

Berjaya Property Bhd's (KL:BPROP) unit Berjaya Construction Bhd said on Wednesday it will undertake design-and-build works for the Sanglang Port development project in Perlis.

Berjaya Construction to undertake design-and-build works for RM1.2 bil port development project in Perlis

KUALA LUMPUR (Oct 28): Iconic Worldwide Bhd (KL:ICONIC) is on track to double its revenue to RM150 million for its financial year ending June 30, 2027 (FY2027), after nearly achieving the same feat the year prior.

Iconic Worldwide on track to double its revenue to RM150 mil for 2027

OTTAWA (Oct 27): Canada and the United Arab Emirates (UAE) signed a comprehensive trade deal on Tuesday to lower barriers between the two economies and boost investment, the governments said, as Prime Minister Mark Carney seeks to expand trade and investment ties at a time of tension with the United States.

Canada, UAE sign trade deal as Carney seeks new trading partners

Copper traded near its highest close in two weeks as traders braced for the Federal Reserve’s decision on interest rates.

Copper wavers near two-week high as traders look to Fed meeting

Summary

•    While high-profile deals continue (such as the RM132 million sale of Menara Haw Par and other land acquisitions), buyer...

Menara Haw Par deal signals renewed interest in KL’s Golden Triangle

KUALA LUMPUR (Oct 28): Bursa Malaysia Bhd (KL:BURSA) reported on Wednesday that its earnings grew nearly 10% in the third quarter from a year earlier, thanks to higher trading activities.

Bursa Malaysia grows 3Q net profit by nearly 10%, says on track with targets

Asia stocks rallied on Wednesday as renewed AI enthusiasm buoyed sentiment ahead of earnings from industry bellwethers later in the US day, while the New Zealand dollar tumbled after the country's central bank unexpectedly held rates steady.

Asian stocks get AI lift, kiwi slides on central bank's surprise hold

KUALA LUMPUR (Oct 28): The government has not set a target year to conclude all claims and asset recovery efforts related to 1Malaysia Development Bhd (1MDB), Finance Minister II Datuk Seri Amir Hamzah Azizan said

Amir Hamzah: Govt has yet to set target year for 1MDB claims, asset recovery

Philippine President Ferdinand Marcos Jr pledged that Philippine authorities will do all they can to defend the peso as the currency weakened to a record low this week.

Marcos pledges to ‘do all we can’ to defend Philippine peso

Oil prices climbed more than 1% on Wednesday after an attack on a refinery in Saudi Arabia renewed concerns around supply risks from the major exporter.

Oil rises over 1% after Saudi Arabian refinery attack reignites supply risk

KUALA LUMPUR (Oct 27): Police have frozen and seized accounts involving RM409.21 million in an investigation into alleged corporate mafia activities as at Sept 25, Home Minister Datuk Seri Saifuddin Nasution Ismail said. 
 
The accounts comprise 70 share-trading accounts worth approxi...

Police freeze RM409m in share-trading, bank accounts in corporate mafia probe

PUTRAJAYA (Oct 28) : The transportation costs to bring Datuk Seri Najib's from prison to Putrajaya for next month's civil appeal will be borne either by the former prime minister or his appointed law firm.

Najib or law firm agree to cover transport costs for appeal hearing in Putrajaya, court told

KUALA LUMPUR (Oct 28): Eco-Shop Marketing Bhd (KL:ECOSHOP) hit a four-month low on Wednesday, after the company’s first quarter fell short of analysts' expectations.

Eco-Shop hits four-month low after 1Q miss; price revision looms

Oil prices climbed more than 1% on Wednesday after an attack on a refinery in Saudi Arabia renewed concerns around supply risks from the major exporter.

Magma Kiara Sdn Bhd, a subsidiary of Bursa Malaysia-listed Magma Group Bhd (KL:MAGMA), has signed a memorandum of collaboration (MOC) with interior fit-out specialist Jalex Sdn Bhd at the Wolo Experience Lounge in Bukit Bintang, to explore its proposed appointment as hotel interior adviser for Wolo Hotel &amp; Residences, Mont Kiara KL, according to a press statement issued on Oct 28.&nbsp;

Magma Kiara partners Jalex for hotel interior work at RM850 mil Wolo Mont Kiara KL

For more than two months, Malaysia has been shrouded in cross-border haze that has grown increasingly severe. While haze is an annual occurrence in Indonesia, Malaysia, Singapore and Timor-Leste, this year’s episode has been described as the worst since 2015.

Choking fumes sweep across Malaysia

Asia stocks rallied on Wednesday as renewed AI enthusiasm buoyed sentiment ahead of earnings from industry bellwethers later in the US day, while the New Zealand dollar tumbled after the country's central bank unexpectedly held rates steady.

SEOUL (Oct 28): South Korean chipmaker SK Hynix said on Wednesday that it would return about US$75 billion to shareholders this year, after reporting a more than seven-fold jump in quarterly profit as AI infrastructure demand continues to drive up memory chip prices.

SK Hynix unveils US$75 bil shareholder return plan after posting record profit

A stronger-than-expected earnings report propelled Nestlé (Malaysia) Bhd (KL:NESTLE) higher on Wednesday, extending the stock's rally as analysts raised their target prices.

Nestlé Malaysia extends gain towards two-month high after 3Q beat, analysts raise target prices

The official newspaper of China’s ruling Communist Party warned that global celebrities risk losing their commercial appeal in the country if they offend local audiences, as widening backlash against French football star Kylian Mbappe puts his brand partnerships under pressure.

China warns global celebrities as Mbappe backlash spreads

Corruption and other scandals involving government-linked companies (GLCs) are, unfortunately, not new. Neither are analyses and commentaries that follow. We are never short on prescriptions for how to prevent these scandals. The latest, of course, is the scandal that engulfed Lembaga Tabung Haji...

My Say: Corruption scandals and GLCs: When accountants have more clout than lawyers (and what lawyers can do about it)

(Oct 27): A spike in Treasury yields is forcing US banks to confront an uncomfortable question: ​sell bonds worth billions of dollars they own at a loss, or hold on to paper losses?

Both carry costs. Selling involves taking ‌an immediate financial hit, while waiting would pile on losses...

Hold or sell? High Treasury yields spur US banks to rethink bond portfolios

KUALA LUMPUR (Oct 28): The Energy Commission&nbsp;is developing a comprehensive framework and guidelines on self-generation facilities and the use of renewable energy for the data centre sector, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

Fadillah: Energy Commission developing comprehensive guidelines for self-generation facilities in data centre sector

A rally in technology companies lifted stocks ahead of this week’s results from industry giants valued at more than US$10 trillion, with traders also bracing for the Federal Reserve rate decision.

US stocks rise in run-up to tech results as oil falls

AMMB Holdings Bhd (KL:AMBANK) will likely shrug off rising bond yields, and it may be time to start buying shares of the sixth-largest bank in Malaysia again, an analyst said.

AMMB on track with earnings, time to ‘buy’ again — analyst

(Oct 28):&nbsp;What began as a banner year is turning into a reckoning for Adani Enterprises Ltd, the flagship arm of India’s richest man Gautam Adani, which needs to deliver on multiple infrastructure projects to fulfill its earnings promise.

Shares of Adani Enterprises have tumbled mo...

Adani flagship’s US$10 bil wipeout raises stake for earnings

MEXICO CITY (Oct 27): OpenAI plans to buy Google's AI chips, The Information reported on Tuesday, citing a person familiar with the matter, as technology companies ramp up spending to meet surging demand for AI computing.

OpenAI plans to buy Google's AI chips, The Information reports

(Oct 28):&nbsp;Anthropic PBC has tapped JPMorgan Chase &amp; Co&nbsp;to lead US sales of shares to individual investors in its potentially record-setting initial public offering, people familiar with the matter said.

Anthropic said to pick JPMorgan to lead IPO’s US retail offering — Bloomberg

Indonesia's President Prabowo Subianto will meet Singapore’s top diplomat on Wednesday as ties between the two Southeast Asian nations come under strain.&nbsp;

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